How to calculate selling price using cost and profit percent? We know, Selling Price = Cost Price + Profit Selling Price = Cost Price + \(\frac{Profit Percentage}{100}\) × Cost Price Selling Price = \(\frac{100 × Cost Price + Profit Percentage × Cost Price}{100}\) Selling Price = Cost Price [\(\frac{100 + Profit Percentage}{100}\)]; [Here, cost price and profit% are known.] 1. Ryan bought a book for $100 and sold it at a profit of 10%. Find the selling price of the book. Solution: Given cost price of the book = $100 Profit% = 10% We know, Selling Price = Cost Price [\(\frac{100 + Profit Percentage}{100}\)] = 100 (\(\frac{100 + 10}{100}\)) = 100 (\(\frac{110}{100}\)) = \(\frac{100 × 110}{100}\) = $110 Therefore, the selling price of the book is $110. 2. John bought a music system for $260. For how much should he sell the music system to gain 10%? Solution: Given cost price of the music system = $260 Gain% = 10% We know, Selling Price = Cost Price [\(\frac{100 + Gain Percentage}{100}\)] = 260 (\(\frac{100 + 10}{100}\)) = 260 (\(\frac{110}{100}\)) = \(\frac{260 × 110}{100}\) = $286 Therefore, he should sell the music system for $286. 3. Robert bought a machine for $1200 and sold it at a profit of 15%. Find the selling price of the machine. Solution: Given cost price of the machine = $1200 Profit% = 15% We know, Selling Price = Cost Price [\(\frac{100 + Profit Percentage}{100}\)] = 1200 (\(\frac{100 + 15}{100}\)) = 1200 (\(\frac{115}{100}\)) = \(\frac{1200 × 115}{100}\) = $1380 Therefore, the selling price of the machine is $1380. 7th Grade Math Problems From Calculate Selling Price using Cost and Profit Percent to HOME PAGE
Didn't find what you were looking for? Or want to know more information about Math Only Math. Use this Google Search to find what you need.
|